Microsoft and online marketplace Paisabazaar.com on Saturday announced that they have entered into a partnership to develop "industry first" innovations on the tech giant's Cloud platform using artificial intelligence (AI) and machine learning.

As part of the overall partnership, Paisabazaar.com will move its entire infrastructure to Microsoft Azure Cloud, the companies said in a statement.

By building the technology on Microsoft Cloud, Paisabazaar.com would offer customised, tailor-made and secure solutions for each consumer coming to its platform.

"With this partnership, we would delight our consumers through a never-seen-before digital experience and help them save both time and money through more customised solutions," Naveen Kukreja, CEO and Co-founder, Paisabazaar.com, added.

The collaboration would help Paisabazaar.com identify customer needs more accurately, factoring in their lifestyle and life-stage.

It would help sharpen product recommendations and underwriting decisions. This would also expedite the processes on the Paisabazaar platform through further automation and digitisation.

The companies would also build chat-bots, image recognition innovations, voice analytics and language processing features to enhance the customer experience.